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Thread: Legal question about estates...

  1. #1

    Legal question about estates...

    I'm hoping somebody can answer this question about estates......

    Background:
    My mother is a widow with two vehicles. Currently the vehicles are only in her name (both the registration and insurance) and she lives in Alberta (if that makes a difference).

    Should she pass away, what would happen to the vehicles? She does have a will saying that I would receive the vehicles, but that could take a few weeks and/or months to settle. I'm thinking of a more immediate (next day) scenario.

    1) Would I be able to drive/take possession of the vehicles immediately after her passing? She had the understanding that I could only drive them for a week or so and then the insurance would be cancelled as then the vehicles have to go to the estate.

    If there are any lawyers in the audience, I would appreciate an answer.

    My mother does a lot of travelling so we are quite open about these types of discussions.

    Any help would be greatly appreciated.

    thanks,

  2. #2
    You're not planning on killing your mom for a free car are you?

  3. #3
    no...not quite !!!

    I have two of my own vehicles already....and she has told me that I'll be getting these other two....

  4. #4
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    Smile

    Maybe he had his car seized??


  5. #5
    OK, you win the prize for the creepiest question of the day....

    Quote Originally Posted by looking4alady
    Should she pass away, what would happen to the vehicles? She does have a will saying that I would receive the vehicles, but that could take a few weeks and/or months to settle.
    If they weren't specifically mentioned in her will then they'd be rolled into the estate and liquidated/distributed accordingly. However, since you say they are listed as something to be bequeathed to you then you'd take title once her estate had been probated. As for the probate period it depends on a number of factors including complexity of her estate (i.e. are there multiple properties, investments, etc.), number of beneficiaries, will anyone contest the will, outstanding balances owed to the CRA/banks/etc., who's acting as the executor. More things you've answered yes to the long it will take to probate.


    Quote Originally Posted by looking4alady
    I'm thinking of a more immediate (next day) scenario.
    Simplest way to deal with any asset is to share title before the person has passed away. That way upon their death it simply rolls over to the survivor without needing to be probated as part of the estate. I've been part of this with houses, investments but never vehicles but don't image it would be different.

  6. #6
    I dunno man.. I'm the biggest jerk around but still...

    If my mother was on her death bed the last thing I would be thinking about would be how quickly I could get my hands on her ride and how long the insurance is good for.

  7. #7
    Thanks for the info...

    My mothers not on her deathbed..actually she's doing very well....

    I don't think its a creepy question....its more a fact of life...where we will be dealing with the estates of someone close to us when they pass away.

  8. #8
    Quote Originally Posted by mustangjoe
    I dunno man.. I'm the biggest jerk around but still...

    If my mother was on her death bed the last thing I would be thinking about would be how quickly I could get my hands on her ride and how long the insurance is good for.
    She's not on her death bed.

    And the best time to sort out this stuff is now, when she is healthy and of sound mind and the family isn't dealing with grief and loss.

    It's a perfectly sensible question and one a lot more people should ask. I've seen too many folks get all the details and snagged up paper work get piled on them right when they are least prepared to deal with it, and instead of dealing with the death they get dragged through the red tape wringer.

  9. #9
    Intersting discussion.

    anyone know if you have to pay taxes on items that are bequeathed to you??
    or what happens if it is money that is bequeathed to you (would that be related to income tax)??

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